Weekly

Weekly Commodity Outlook:-


HIGHLIGHTS:

Gold rose on Friday, advancing in the bullish $1,200 territory and notching its best weekly gain in six after disappointing U.S. nonfarm payrolls for September weighed on the dollar and prompted investors to seek alternative assets, including bullion and higher-yielding bonds. Nonfarm payrolls rose by 134,000 last month, the Labor Department said, vs. expectations for a gain of 185,000. But the unemployment rate fell to 3.7%, the lowest in nearly 50 years. "The NFP report is about as clear as mud for forex markets," TD Securities said in a note. "On the whole, we are not convinced that this is a catalyst to trigger additional U.S .dollar gains. If anything, it could be quite the opposite."Gold futures for December delivery settled up 0.33%, or $4, at $1,205.60 a troy ounce on the COMEX metals division of the New York Mercantile Exchange, preliminary exchange data showed. The high of the day was $1,212.30, a peak since Aug. 26.

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